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9- All of these are key areas of a typical spend analysis except a-Spend by division, department, or user b- Expenditures categorized by commodity and sub-commodity c- Total number of items sourced (C) d- Future demand projections or budgets

9- All of these are key areas of a typical spend analysis except a-Spend by division, department, or user b- Expenditures categorized by commodity and sub-commodity c- Total number of items sourced (C) d- Future demand projections or budgets

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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No. 9 please

The text presents a question from a spend analysis topic, commonly used in educational settings to understand financial planning and management. **Question 9:** All of these are key areas of a typical spend analysis except: a- Spend by division, department, or user b- Expenditures categorized by commodity and sub-commodity c- Total number of items sourced d- Future demand projections or budgets e- Spend by supplier The correct answer is marked as option c, "Total number of items sourced." **Explanation:** In the context of spend analysis, identifying key areas helps organizations understand their financial expenditures and optimize budgeting. Options a, b, d, and e reflect common categories analyzed to assess spending patterns. However, the total number of items sourced (option c) is not typically a focus area in spend analysis, as it does not directly relate to budgeting or expenditure categorization.
Transcribed Image Text:The text presents a question from a spend analysis topic, commonly used in educational settings to understand financial planning and management. **Question 9:** All of these are key areas of a typical spend analysis except: a- Spend by division, department, or user b- Expenditures categorized by commodity and sub-commodity c- Total number of items sourced d- Future demand projections or budgets e- Spend by supplier The correct answer is marked as option c, "Total number of items sourced." **Explanation:** In the context of spend analysis, identifying key areas helps organizations understand their financial expenditures and optimize budgeting. Options a, b, d, and e reflect common categories analyzed to assess spending patterns. However, the total number of items sourced (option c) is not typically a focus area in spend analysis, as it does not directly relate to budgeting or expenditure categorization.
Expert Solution
Step 1 Spend Analysis

Spend Analysis is related to Strategic Planning and Execution. It is one of the processes carried out under the online process of purchasing. As the name suggests, it is concerned with analyzing spending patterns, the suppliers associated, and the purchasing associates. There are 8 steps in the online purchasing process:

  1. Spend Analysis
  2. Supplier performance assessment
  3. Supplier’s identification
  4. Sourcing
  5. Contract management
  6. Procurement
  7. Order fulfillment
  8. Invoicing, payment, and reconciliation

 

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